Are you on the lookout for the next crypto moonshot?
You’re not alone.
The hunt for high-potential penny cryptos is hotter than ever, with investors scouring the market for hidden gems.
In this article, we’ll explore five low-priced coins that could reach $1 before the end of the year.
1. Ethena (ENA)
Our list kicks off with Ethena (ENA), which is causing a stir in the DeFi space with its unique approach to stablecoins.
Ethena offers USDe, a synthetic dollar that aims to be the “Fort Knox” of digital currencies – stable, scalable, and resistant to censorship.
However, what sets it apart is its use of delta hedging.
This strategy basically involves playing the futures market to keep USDe steady against the dollar.
However, the reason why ENA might hit $1 isn’t just because of USDe.
ENA is the key to the whole protocol, giving holders a say in how it evolves.
With a current price of around $0.33 and a market cap of $606 million, there’s plenty of room for growth.
If Ethena can deliver on its promises of high yields and global accessibility, that $1 mark might not be far off.
2. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) is the latest meme coin to catch fire.
This project is entering the Layer-2 space, promising faster (and cheaper) transactions than your typical Ethereum-based meme coin.
It’s basically a high-powered joke token with real utility.
By launching their own Layer-2 network, Pepe Unchained’s team aims to become a “hub” for all the cat, dog, and frog-themed tokens on the market.
But there’s more.
Pepe Unchained also offers gigantic staking rewards – currently quoted at 234% per year.
That’s far higher than what most staking coins offer.
And with over $8.3 million raised in presale, Pepe Unchained clearly has momentum behind it.
The project’s Telegram channel already has over 5,100 members.
So, with an exciting roadmap and millions in the bank, Pepe Unchained is another penny crypto that could reach $1 this year.
3. Conflux (CFX)
Conflux (CFX) is like the Switzerland of blockchains – neutral, efficient, and friendly with regulators.
It’s the only public blockchain that’s got the thumbs up from China’s government.
But Conflux isn’t just another stuffy corporate chain.
Instead, it’s all about speed and scalability.
We’re talking 3,000 to 6,000 transactions per second (TPS), which is faster than most other chains.
And Conflux also has a hybrid consensus protocol, mixing Proof-of-Work and Proof-of-Stake together.
Considering these factors, there’s a growing belief that CFX could hit $1 this year.
The fact Conflux has its foot in the door of the Chinese market and has partnerships with the likes of China Telecom is huge.
If it can capitalize on its unique position, the dollar mark might just be the beginning.
4. Polymesh (POLYX)
Another penny crypto that could hit $1 in 2024 is Polymesh (POLYX).
Polymesh is a blockchain built specifically for security tokens.
Think of it as a digital platform where traditional financial assets can be tokenized and traded, but with all the regulatory boxes ticked.
What makes Polymesh so special is its focus on compliance and identity.
Every user has to verify who they are, which might sound like a drag, but it’s precisely what big institutions need to feel comfortable jumping into crypto.
So, why could POLYX hit $1?
As more companies look to tokenize real-world assets, like stocks or real estate, Polymesh is perfectly positioned to be the platform of choice.
And with a market cap of just $189 million, POLYX has room to grow.
5. PlayDoge (PLAY)
Rounding off our list of high-potential penny cryptos is PlayDoge (PLAY).
PlayDoge is taking a nostalgic twist on the meme coin craze.
Imagine if you had a Tamagotchi pet that paid you in crypto – that’s basically what PlayDoge’s team is aiming for.
The gameplay is simple: users adopt a virtual Doge, care for it, and play mini-games with it.
As a result, users can earn PLAY tokens over time.
It’s a fun (and rewarding) way to gain exposure to the meme coin space.
PlayDoge is still in its presale phase but has already raised over $6 million.
PLAY tokens are on offer at the discounted price of $0.00528.
That means it would take an exponential rise for PLAY to ever hit the $1 level.
But given that PlayDoge taps into two hot trends – meme coins and P2E games – there’s a real chance it could rally after its listing.
